In my series on the Qoin Con, I have announced publication of the book The Qoin Con; explained the process of investigating; then established the extent of the fraud. I detailed IRTA’s active covering up (for years); gave advice to Qoin’s Creditors and showed the extent of Qoin’s incredibly huge debt to real asset ratio [>60:1]. In the process I showed the conmen’s spine chillingly callous attitude to their creditors, many who had helped and sacrificed for them. In this post though, it gets even worse (for the conmen) as I explain how they have committed very serious crimes – knowingly trading while insolvent AND securing loans and advances fraudulently. The consequences of this fraud are significant, for creditors, for IRTA, the barter industry and many others. Aside from Bartercard’s massive undisclosed trade deficit, and one longrunning shonky US operation not yet blogged about, I estimate the Qoin Con to be the most serious event the industry has ever faced. Let me explain . . .
At the outset of this post, I state that I am NOT a lawyer so please don’t USE my words as legal advice. That said though, I am not stupid and have never lost a court case in over 40 years of standing up for justice, especially when the little people are getting hurt and abused.
When ‘calling’ conmen (like I have done with Edgar Kampers and Ron van Hilten from Qoin) I, like a prosecutor or a judge, have two key aspects to consider . . . first the FACTS, and then the LAW.
In order to claim that Qoin is a con, and that Edgar and Rob are criminals, I have to first KNOW the facts (that comes as a result of an investigative activity); then I have to have EVIDENCE of the facts (that is in order to PROVE those facts – either to the sceptical world or in a court of law).
Once I have the facts (and preferably know that I can prove them), I must then APPLY them to the LAW. That requires me to KNOW the law before I can apply the law. If an action by the conmen is clearly contrary to the law then the person who acted illegally is a criminal, even if they haven’t yet been found guilty in a court of law, they are still ACTUALLY criminals, and all things being equal they are just criminals pending their inevitable conviction.
The decision on what and when to SAY that they are criminals in a public forum – like my blog or in a book/publication such as The Qoin Con – is not always easy or simple.
In a perfect [Western] world, the criminals will do their crime and try to cover it up; the informant will give a tip to an investigator who will then investigate; the prosecutor charges; the media report that the person(s) is/are being charged and then the justice system takes over and we all know what that’s all about, judge/verdict/jail/newspaper stories etc.
In the real world however there is a blurring of the lines – I can know something to my satisfaction and then go public without legal proof OR I can wait for sufficient proof and then go public with it all knowing that I can ‘cover by butt’ if sued for defamation. There is no magic formula for me . . . it’s a sliding scale of taking reasonable risk in blogging about something early order to flush out more evidence and being ultra careful to have it all ‘in the bag’ with watertight legal-standard evidence before going public.
As an accuser with the information I DO have the right to speak this because it’s my right as a human to view the facts, make an assessment and then speak it out. That’s a role in life that I have embraced and as long as I am prepared to face the consequences (which I certainly am) then I have every right to do this.
With The Qoin Con, I started with sufficient knowledge and proof of the nature and character of (as I put it in the book’s byline) “The Funny Money Jokers” that I could go to press confidently. As I spoke to more of Qoin’s Creditors and those they had ripped off however, the real evidence started turning up through the Tipline. These subsequent posts outside of the first draft of the book are the direct result of going public early with the information on the criminals, which has then resulted in detailed information and evidence of the crimes surfacing.
My book The Qoin Con shows how Edgar Kampers and Rob van Hilten are men with high levels of self-interest with low morals/ethics. They always have been talkers and users of people, with a history of bankruptcy and a sea of disillusionment around them. Their skills (and indeed success) at securing funding and loans has enabled then to ‘gain’ and then ‘rotate’ credit for personal enrichment. The Qoin Foundation is and always has been a front for personal enrichment, totally contrary to public and industry beliefs for years, but ‘nice guys’ are some of the worst conmen around.
Basically Rob & to some extent Edgar have presented themselves as experts in their chosen industry, secure funding (on any trumped-up basis that will work), then pocketed the money personally, then played games with their creditors. You can see that from the previous post in which I detail Edgar’s actual words of instructions to the debt restructurer.
Constantly building their own wealth though, left the business strapped for cash. Borrowings and debt increased as they secured more and more loans and advances. Always strapped for cash in the business, they traveled the world, partying and having ‘business’ holidays (in for example Bali) yet cried poor to idealists volunteering as staff. Sickeningly these people were rewarded with worthless shares in the company or they were issued with IOUs/loans to the company, who of course would never be able to repay!
None of this is clear fraud or a crime per se so far. It’s just an unethical business conduct from two people out to enrich themselves by using others – the world is full of people like this . . .BUT . . . and this is a HUGE BUT . . .a long time ago, when Qoin was in a major cash squeeze that almost put them under, Rob van Hilten and Edgar Kampers, directors of Qoin called in a specialist debt restructurer, for help in getting through their financial ‘problems’.
This man, in his professional capacity called in by the Directors to help them in a crisis, analysed Qoin’s finances and came to one simple conclusion, Qoin was broke – insolvent, and he recommended that they should declare bankruptcy forthwith.
Rob and Edgar rejected that professional advice immediately and firmly. At this point Rob and Edgar KNEW that they were trading while insolvent and having received professional advice to this effect from that point onwards, BY LAW, they are now personally liable for any losses incurred.
Trading while insolvent is a crime – that’s the LAW.
Obtaining credit knowing that you are insolvent is also a crime – that’s the LAW.
Qoin’s debts are substantially greater now in 2016 that when they were advised to go bankrupt – those are the FACTS.
Rob and Edgar are criminals, knowingly trading while insolvent in the face of professional advice NOT to, and having secured loans, advances, and credit for personal enrichment knowing that losses will occur to the investors. While they have yet to be charged by (private prosecution or through the police) and have yet to face a court of law, I am here stating that these are FACTS.
I have the evidence, and yes, it is of a legal-proof standard, and yes, I am happy to provide it to the authorities or any Qoin creditor who wishes to take affirmative action in their rown right.
QUANTIFYING THE CRIMES
The key factor in assessing the extent of these conmen’s crimes is to determine WHEN the Directors knew that they were trading while insolvent. We all know now that in fact they always have but for the purposes of a criminal proceedings case the only thing that matters is the exact point that one can PROVE that they knew.
All decisions that the Directors made from that point onwards become potential crimes. In the event of losses, all borrowing from that point onwards becomes a crime, EVEN if it is later repaid. While all will know that morally their existing debts (at the point that they were advised to go bankrupt) were probably also obtained under false pretences too, they are not automatically included as a part of the provable crimes. They COULD be but may not be provable unless there is a clear intent to defraud and that may beb harder to prove in court.
All debts incurred after that however ARE definitely included in the crimes and any future charges will likely relate to all these accounts. In Qoin’s case this includes all debts to staff, ex-staff, volunteers, sub-contractors as well as to the commercial lenders, and of course all Crowdfunding lenders.
It MAY also include those who have issued grants, if the grantor can prove falsehood in Qoin’s applications or presentations, but this is another issue and does not necessarily gain automatic inclusion [IMHO].
When a Director (or Directors like Edgar and Rob) enters into an agreement with bad-faith or deceives and especially done while trading insolvent, and if this can be proven, then there is a high likelihood that the entire agreement can be declared NUL and VOID.
This is likely to be the case in one Qoin Creditor’s case that I’ve already exposed where she had negotiated a repayment plan in which a large portion of her debt was to be repaid conditional on the Debtor (Qoin) being able to afford it. Well of course Edgar would have laughed his head off after securing that agreement because he would have known that they would NEVER make a profit simply to repay her! He would make very sure of this! First he was running a bankrupt organisation to start with and secondly you can see from his own words, that he’s got no compunction about screwing a creditor if it reduces his liabilities!
In my book The Qoin Con, I reveal the full details surrounding this commercial transaction between the professional advisor who advised them to declare bankruptcy and Qoin’s Directors who then proceeded to trade while insolvent and increase their indebtedness from many quarters.
I reveal the exact date; the location and identity of the professional advisor; and give the actual proof perfectly usable in court proceedings, criminal or civil in any jurisdiction in the world, including The Netherlands, location of the crimes.
I then detail the actual figures showing a track record of shabby repayments of loans, increasing and uncontrollable debt; debt recycling (so that any new loans go to pay off the pressing creditors); obscene personal enrichment and more that all demonstrate a grossly undercapitalised shoe-box operation run by a couple of low-life opportunist amateurs in business.
CREDITORS & AUTHORITIES
Qoin’s Directors are ‘easy meat’ for their sloppy conduct in business management extends also to their pathetic attempts at protecting themselves from investigation too for the first lesson as a criminal is to keep your crimes hidden. These fools haven’t!
That I, on the other side of the world can open up their Qoin Con like a can of spaghetti in a matter of months shows how foolish they are. OK sure it is the informants and their Creditors and the whistleblowers who have made this possible but their ship has a LOT of leaks – as there are LOTS of people really p*ssed off with them, inside and outside.
Basically these guys have made NO effort at concealing their tracks, instead they have simply trusted all that their ‘golden words’ will be accepted forever simply because they spoke them and that the world loves them and thinks that the sun shines out of their . . . well you get the picture!
Expecting all and sundry to love you and to believe your spiel despite the fact that you are using them and ripping them off, is foolishness in the extreme.
These conmen are definitely not the smartest in the business!
Their ability to get away with this for years is the result of years of IRTA’s active endorsement of Rob van Hilten and anything he does, which of course is Qoin and Tradeqoin.
It’s also a result of the industry shamelessly accepting the smile and friendliness of Rob himself, personally. He’s a ‘nice guy’, everyone knows that, and to believe that anything under the hood in the Qoin camp is not kosher is an affront to ones’ capacity to see the truth. These are the forces that empower conmen and that help perpetuate a fraud. It happens all the time!
SIGNIFICANCE OF THE CRIMES
The barter industry is not the cleanest industry out there. Anyone who’s been in the game for a few months knows this, and IRTA has a reputation (obviously well justified now) of looking after their own, but Qoin’s demise and the way that this has tracked back into the heart of the industry is significant.
These guys are not just another tin-pot little trade exchange talking big and failing to deliver. Qoin has been one of the most successful self-promoters in the industry. They have positioned themselves as leaders, central in the Community Currency industry, self-proclaimed experts, and they’ve done it well.
They’ve engineered one of their own into a high-profile position of responsibility in the commercial barter industry with Rob van Hilten a long-serving member on the IRTA Board. Sure he’s a yes-man with no practical experience BUT with that appointment naturally cames credibility to die for, especially valuable for conmen.
They’ve built a formidable array of industry contacts and partnerships, STRO, NEF, CCIA, the big names and all high profile people are their friends, associates, consultants or listed on their matierals.
They’ve burned through millions in grant money, a lot received through the Dutch lottery funders Stichting Doen, muscled, lied and conned their way through more than half a dozen crowdfunding campaigns and have built strong relationships with dozens, nay hundreds of people across the globe, to high levels.
Every single one of these contacts; funders; investors, partners will be now having to reassess their past actions and come to terms with their gullibility and to some extent folly.
- Government departments to whom they have presented themselves as experts will now shun them.
- The tax collectors will no doubt be on their tail, and will black flag these Directors, probably for a very long time if not forever.
- Local governments such as the ones responsible for the Makkie and others relying on their software will need to look elsewhere (after they have done a bit of navel-gazing no doubt).
- Partners such as the NEF group of mates will need to redo their written materials and reassess their past cosy relationship with conmen.
- IRTA of course will need to find a way to spin their way out of the mess they put themselves in.
- Annette Riggs and Ron Whitney personally will need to find a plausible excuse as why they came to an obscure event in an obscure University in the Netherlands just coincidentally around about the time that, [cough, cough] Rob van Hilten secured his coveted endorsement as a board member of the ‘prestigious’ International Board of Directors of the International Reciprocal Trade Association, contrary to the IRTA rules. They’ll also have to hope like h*ll that nobody investigates why at the same time as this was all happening a Dutch lottery grant organisation established to support the Dutch community slipped a $1/4m grant out to . . . yup you guessed it . . . somewhere in the USA!!!
- Stichting Doen too, the above-referenced organisation will need to address the obvious, why did they get conned so often and for so much? Oh and they too had batter hope that they were never warned about the scammers and if they were, that they dealt with such warnings ethically and professionally at the time, or they might be accused of nepotism or worse . . . oops!
- The crowdfunders too will be doing a bit of navel-gazing over the Qoin Con. One in particular will be knocking on Edgar’s door pretty soon I reckon with more than one campaign unpaid and their payments in default! TIP: Don’t answer your door for a while Edgar! There might be some more very urgent business in Bali perhaps? Or the backblocks of Brazil or Argentina?
- Seriously though, Symbid too has some serious issues now for I warned them as did others and now that the wheels are falling off and the fraud being revealed for what it is, one would have to revisit Symbid’s decision to extend the last Symbid campaign with a million Euro devaluation of the business in mid-stream! Come on Symbid, we could all see it was a sham yet you proceeded with these shysters’ scheme just for a few miserly bucks! You gotta hope like h*ll too that nobody up there in The Netherlands bothers to read Samoan investigative bloggers or you’ll be facing serious kickback for your aiding and abetting criminal activity . . . oops! And put some energy into making your valuation software outputs realistic too – these conartists entered pure fabrications and just invented a multi-million Euro valuation! OK sure in midstream (when they had no option but to) they dropped a cool million Euros off the bottom line, but come on Symbid. Get your act together!
- Individuals in the industry who have variously endorsed, supported or been pleased to be associated with these criminals will need to adjust their bios, claims to fame, Facebook connections and ‘adjust’ things online to save face. This will hurt many.
- Those who supported this donkey of a sham over quality investigative reporting will need to face their consciences and determine the best way forward to get out of the poo they are in – either shut up and just hope that the blogger will leave them alone for their past indiscretions and foolishness, or front-foot it and apologise so as to clear the air around their future careers in the industry.
- Qoin’s Creditors too will need to deal with a newly perceived reality. So far they will probably have been believing the story-tellers that there is something in there; that Qoin is something or has something or actually does something. Nope! The barrel is well and truly empty for them. I suspect that ex-staff members and volunteers who ‘gave it all for the cause’ only to find out that their principals were callous crooks that have no compunction about using them, will be some of the hardest hurt, although many of them will have worked it out for themselves to some degree, which is why they will have left. They say that idealism and opportunism are bedfellows, don’t they?
- Observers, and there are many that sit there quietly just watching and listening and thinking will be affected. “Yet another fraud within the barter industry!” “There goes Dennis again, when will it ever end!” “Who can I trust?” “Where is the industry going?” These are all serious issues that Rob and Edgar will have brought to the surface – the last thing that the industry needs when it’s already stretched through outside circumstances.
- Last but not least there’s the can-artists’ families and this part just plain sucks. Rob’s wife has the family farmhouse under her name so she’s clearly up with the play to some extent and he’s got family staying in his house. I doubt that they are going to know that they could easily be homeless and probably sooner rather than later. If that’s the case then that’s not fair. Children, spouses, relatives, no matter how much they knew are still to some degree innocent parties in frauds like this. That sucks, but it’s life if your breadwinner does it to others, it’s going to come back to bite their families in the bum sooner or later.
- There will be some people who will get a buzz out of watching this Qoin Con unfold – their competitors in The Netherlands Trade Xchange must be beside themselves with glee watching it all come out on their back doorstep.
- Make no mistake about it, Qoin’s crooked lawyer Vallerie Vallenduuk took direct aim at Trade Xchange and deliberately, consciously over several years did her level best to take them out for several years – their bankruptcy was her clear and stated aim. To see her then squirm and sweat in front of the Dutch disciplinary panel, knowing that she was going to go down as a lawyer, probably for life for her misconduct must have been a VERY happy day for the longsuffering dudes up there in Holland who are doing quite well despite the Qoin nonsense as far as I can tell. AND to see the Qoin mob getting exposed must be like Christmas time for them.
- Daniel Evans too will be watching the whole saga from his lair and probably laughing his head off as his nemesis IRTA is shown with real evidence to be just what he called them. Specifically, it must really p*ss him off that he can’t come out of hiding to gloat about seeing Annette Riggs and Ron Whitney in between a rock and a hard place as they’re being exposed too over the whole Qoin Con.
- Other IRTA detractors will be watching on with a knowing smile – “Yup! We knew it all along!” will be their thoughts.
- Those longer in the industry with a genuine heart for it will be saddened no doubt for it’s just yet another knock in a long string of nonsense that they’ve had to deal with over the years. And in some ways it is sad to see so many people affected because of the greed, selfishness and just downright stupidity of Rob & Edgar – just stupid!
I don’t want to predict the exact timing and sequence of events in which Qoin self-destructs but to all intents and purposes it is long past dead. My book The Qoin Con will make sure of that if this series of posts hasn’t. The Creditors have a window of opportunity to unite and negotiate with the crooks – along the lines of “Cough up the real estate and we’ll withdraw (or won’t press) charges” or they’ll go straight to jail, and then the Creditors could still possibly get their hands on the assets.
Anything else is just a waste of time – dealing with crooks is like trying to chop down Triffids – they keep coming back with the same BS and more of it – they just can’t help it. It’s easy to tell when these kinds of people are lying – just look at their lips – if they’re moving, they are.
[WHAT? You can’t say things like that, Dennis; it’s defamatory!]
I just did; and my defence is that it is the truth. Rob, Edgar, please find some money so you can find and pay a real lawyer who isn’t going to get kicked off the bar and then sue me so the evidence can all come out in court – or maybe you should buy the book The Qoin Con releasing February 2016! It will be in all the bookshops and the hands of all your funders too, you can borrow a copy of one if you ask them nicely seeing as you don’t have a lot of the ‘readies’ at the moment.
Oh, and sell up quick smart and pay your creditors fast before anyone thinks to lodge a complaint with the Dutch Police. I’m sure that some journalist would LOVE to explore the corruption inside crowdfunding operations, and certain lottery grants organisations. The Fraud Squad will have an easy job too – for I’ve done all the work for them!
The Qoin Series
- The Qoin Con – Exposing them all - Notification of pending book release [766 words]
- Using Modus Operandii to expose Qoin - a precis of the logic used to expose the con [4,144 words]
- Coordinating Qoin’s Creditors - help and advice for Qoin's affected Creditors [3,918 words]
- Qoin Questionnaire - Creditor Questionnaire
- IRTA’s Cover-Up of The Qoin Con - IRTA actively covered for the crooks, for years [2.257 words]
- Qoin on the Ropes - The conmen moving into panic mode as creditors start calling, and squeezing [2,710 words]
- Qoin Screwing Their Creditors - Incredibly callous actions of greedy conmen without a conscience exposed [2,558 words]
- Qoin Directors’ Criminal Actions - An analysis of trading while insolvent & fraud, plus the serious consequences [3,999 words]
- Qoin’s Cover Up Commences - The first of the companies closed down (owing €95k BTW!) [1,348 words]
- Qoin’s Veritable Maze of Confusion - Just some of the current companies, the cancelled companies and the phantom companies [2,142 words]
- Qoin Fraud Exploits Crowdfunding Loopholes - Geld voor Elkaar and particularly Symbid are highly exposed having supported the Qoin fraud [1,521 words]
- Qoin Exposes Stichting Doen’s Nepotism - Stitchting DOEN has funded, was warned and covered up. They are complicit [2,273 words]
- WARNING to Tradeqoin Members - Tradeqoin is simply a database of names but all who allow their names to be used help perpetuate the fraud [635 words]
- Qoin’s Conman Rob van Hilten’s Lies - Proven liar, liar, liar, liar, lair! [1,848 words]
- WARNING to Qoin Supporters/Endorsers - Conmen leverage relationships with "big names" to gain credibility - A warning to those who may have been conned [601 words]
- Bye Bye Qoin – Officially Bankrupt - A slap in the face for Qoin's two conmen, their active supporters to the end, IRTA's Executive, and other losers who backed the donkey of BS over a thoroughbred of facts. [2,277 words]
- Issues for Qoin’s Liquidator [Curator] - All liquidators of frauds must work through deception. Good ones will get there and find the money. [1,530 words]
- IRTA Source Emails Annette Riggs [7,220 words]
- IRTA Source Email – Ron Whitney [1,098 words]
- Correcting IRTA’s ad hominems - Reveals & proves an ugly personal agenda [ 3,153 words]
- Qoin’s Bankruptcy Unravelled - The details and explanation [2,613 words]
- Qoin as a Source of Ridicule - Nobody trusts them now [1,140 words]
- Qoin’s Bankruptcy – Liquidator Report - Here's the proof! [4,722 words]
- Qoin’s Trading While Insolvent - Damning White Collar crime proved - THE KILLER-POST! [1,639 words]
- Qoin Conmen’s Methodology - Explaining the confidence game [2,741 words]
- Qoin's Bankruptcy - Industry Significance - Significant! [2,016 words]
- Qoin Spins Down & Down - IRTA's spin on Qoin's bankruptcy [991 words]
- IRTA’s Defence Undermined by FACTS - Jacob Musschenga pings IRTA's spin [1,353 words]
- IRTA: Explaining is a Sign of Defeat - Damning commentary of IRTA's Defence [3,492 words]
- Qoin’s Crimes Listed - Summarising criminal actions of Qoin's Directors [1,176 words]